Trust Co. of Toledo NA OH cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 2.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 34,397 shares of the railroad operator’s stock after selling 826 shares during the period. Norfolk Southern makes up approximately 1.7% of Trust Co. of Toledo NA OH’s holdings, making the stock its 10th biggest position. Trust Co. of Toledo NA OH’s holdings in Norfolk Southern were worth $9,237,000 as of its most recent SEC filing.
Other hedge funds have also added to or reduced their stakes in the company. Souders Financial Advisors acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $2,023,000. Tortoise Investment Management LLC raised its holdings in shares of Norfolk Southern by 20.9% during the fourth quarter. Tortoise Investment Management LLC now owns 289 shares of the railroad operator’s stock valued at $69,000 after acquiring an additional 50 shares during the period. Nippon Life Global Investors Americas Inc. raised its holdings in shares of Norfolk Southern by 95.6% during the fourth quarter. Nippon Life Global Investors Americas Inc. now owns 87,970 shares of the railroad operator’s stock valued at $20,903,000 after acquiring an additional 42,990 shares during the period. Schwab Charitable Fund acquired a new stake in shares of Norfolk Southern during the fourth quarter valued at approximately $6,004,000. Finally, Hartford Investment Management Co. raised its holdings in shares of Norfolk Southern by 8.7% during the fourth quarter. Hartford Investment Management Co. now owns 29,015 shares of the railroad operator’s stock valued at $6,894,000 after acquiring an additional 2,324 shares during the period. 67.25% of the stock is owned by institutional investors and hedge funds.
Several research analysts have weighed in on the stock. Smith Barney Citigroup upped their price objective on shares of Norfolk Southern from $250.00 to $290.00 in a research note on Monday, January 11th. Argus upped their price objective on shares of Norfolk Southern from $225.00 to $275.00 and gave the company a “buy” rating in a research note on Monday, February 1st. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell upped their price objective on shares of Norfolk Southern from $250.00 to $290.00 in a research note on Monday, January 11th. Morgan Stanley upped their price objective on shares of Norfolk Southern from $145.00 to $165.00 and gave the company an “underweight” rating in a research note on Tuesday. Finally, Vertical Research assumed coverage on shares of Norfolk Southern in a research note on Friday, March 26th. They issued a “hold” rating and a $240.00 price objective on the stock. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the stock. Norfolk Southern currently has a consensus rating of “Buy” and an average price target of $238.57.
Shares of NYSE NSC traded down $3.43 during trading hours on Thursday, hitting $268.05. 18,133 shares of the stock were exchanged, compared to its average volume of 1,185,939. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.29 and a quick ratio of 1.16. The company’s 50 day moving average is $261.21 and its 200 day moving average is $240.01. The firm has a market capitalization of $72.97 billion, a P/E ratio of 34.94, a P/E/G ratio of 3.09 and a beta of 1.38. Norfolk Southern Co. has a one year low of $147.37 and a one year high of $276.15.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, January 26th. The railroad operator reported $2.64 earnings per share for the quarter, beating analysts’ consensus estimates of $2.48 by $0.16. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. The firm had revenue of $2.60 billion during the quarter, compared to the consensus estimate of $2.54 billion. During the same period in the prior year, the firm earned $2.55 EPS. The business’s revenue was down 3.3% on a year-over-year basis. Research analysts anticipate that Norfolk Southern Co. will post 9.1 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 10th. Shareholders of record on Friday, February 5th were issued a $0.99 dividend. The ex-dividend date of this dividend was Thursday, February 4th. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.94. This represents a $3.96 dividend on an annualized basis and a yield of 1.48%. Norfolk Southern’s dividend payout ratio is 38.30%.
Norfolk Southern Company Profile
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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